Shareholder Activism

Shareholder activism has become a defining feature of today’s capital markets in Canada and beyond. Boards and activist investors face complex legal, governance and reputational risks - often under tight deadlines and intense public scrutiny. Successfully navigating shareholder activism requires experienced legal counsel with deep market insight, strategic judgment and the ability to deliver results in high‑pressure situations.

Goodmans advises boards of directors, special committees and activist investors on the full spectrum of activism matters, including:

• Shareholder Activism Strategy and Preparedness. Our lawyers advise boards and activist investors on activism preparedness, vulnerability assessments and response strategies, including advance planning for activist campaigns, governance challenges and unsolicited approaches. We bring the judgment and interpersonal skills needed to guide clients through situations that are often fast‑moving and highly charged.
• Proxy Contests and Contested Meetings. We have a proven track record of success for both activists and issuers as their lead counsel in proxy contests across industries, including director nominations, meeting requisitions, dissident circulars and solicitation strategy. Goodmans has also been an innovator in this space, including early adoption of digital and social‑media outreach to engage shareholder audiences.
• Shareholder Engagement and Settlement Negotiations. We help clients achieve objectives without unnecessary escalation, by supporting disciplined shareholder engagement and negotiating resolutions that balance legal rights, governance priorities and market considerations.
• Litigation and Securities Regulatory Proceedings. When necessary, we represent clients in strategic and tactical litigation, securities commission applications and court proceedings involving shareholder rights, disclosure disputes, meeting validity and proxy solicitation issues.
• Integrated Advisory and Communications Coordination. Working closely with leading proxy solicitation, investor relations and media relations firms in Canada and internationally; our lawyers ensure legal strategy is aligned with shareholder communications, public messaging and market impact.

Goodmans has played a pivotal role in shaping shareholder activism market practices in Canada and is a leading recipient of referrals from Canadian and international law firms. Clients rely on our shareholder activism lawyers for clear advice, strong advocacy and steady leadership when it matters most.